Risk factor
Poor trading liquidity
Profitability factor
Very strong margins and returns
About
Boustead Singapore Limited, a global investment holding firm, provides specialized solutions across three core sectors: energy engineering, real estate development, and advanced geospatial and healthcare technologies. Its international footprint covers Africa, the Asia Pacific, Australia, Oceania, Europe, the Middle East, and both North and South America. In its energy engineering capacity, Boustead develops, constructs, and delivers direct-fired process heating systems, waste heat recovery units, and related components for the oil and gas, petrochemical, and wider energy industries. The company also offers comprehensive emergency shutdown and process control systems for upstream oil and gas operations. These include pneumatic, hydraulic, or PLC-based wellhead control panels, hydraulic power units, integrated control and safety shutdown systems, topside automation, chemical injection skids, fire and gas systems, and SCADA solutions. Furthermore, Boustead specializes in water and wastewater treatment facilities, catering to clients in the oil and gas, petrochemical, pharmaceutical, power generation, semiconductor, and defense sectors, as well as municipal entities. Its expertise extends to the design, engineering, and supply of mini-power plants, waste-to-energy recovery facilities, and associated combustion technologies. Boustead's real estate division provides design-and-build services and development expertise for industrial parks and commercial business developments. Its property activities encompass ownership, management, and rental of various properties, alongside the development of industrial spaces for lease or sale. Supporting these endeavors, the company offers a suite of services including management, professional training, project management, design, construction, property-related consultancy, private business trust and real estate trustee functions, and property fund management. Within the technology domain, Boustead delivers geographic information systems (GIS) and location intelligence solutions, and serves as a distributor for Esri geospatial technology. Additionally, it supplies medical solutions for age-related chronic conditions and mobility issues, complemented by data set services. Founded in 1828, the company is headquartered in Singapore.
Company Valuation
Based on key historical and expected multiples, the stock is undervalued relative to its peers. Specifically, the stock is 'cheap' on P/E, neutral on EV/EBITD.